Former Polychain Capital Partner Launches $125M Crypto Fund

Former general partner of Polychain Capital, Tekin Salimi, has launched the dao5 investment fund with $125 million in assets, Forbes has learned.

According to him, the structure is aimed at supporting projects in the crypto industry in the early stages.

The fund reportedly plans to invest in areas such as privacy technology, DeFi, NFTs, decentralized autonomous organizations (DAOs) and first-tier blockchain infrastructure. The average funding is expected to be between $500,000 and $2 million.

Salimi intends to transform dao5 into a DAO by 2025, meaning that the recipients of the investments will become the owners of the governance tokens of the future organization. This solution is designed to provide mutual financial support to the founders of portfolio companies and incentives for joint work. He has stated:

“The goal of dao5 is to explore a new model for launching a DAO by focusing firstly on attracting talent and capital through venture capital investment, and secondly on increasing the value of the treasury by leveraging the collective talent of the community.”